The Chartered Institute of Management Accountants (CIMA) is the world’s largest professional body for management accounting. It is based in the United Kingdom. Its activities include training and professional exams, such as the main CIMA qualification, which is billed as being equivalent to a graduate degree. For students who are still working their way through the process, there are lower-level qualifications available.
The main CIMA qualification follows a syllabus that is divided into four levels of competence: operational, management, strategic, and professional. To obtain the qualification and become a member of the institute, candidates must pass all levels.
The course’s first section is divided into three sections: enterprise, performance, and financial management. Each subject requires the student to complete the syllabus and pass an examination at an initial level known as operational, followed by an examination at a more advanced management level on the same subject. In some subjects, you can advance to the management level before completing the operational level in others.
After completing the six modules, which cover the two levels of the three subjects, the student advances to the strategic level. For each of the three subjects, there is a more advanced syllabus and examination. Before moving on to the strategic level of any of the three subjects, the student must pass the management level of all three.
The student advances to the final stage, professional competence level, after completing and passing the strategic level of all three subjects. This requires three years of professional experience followed by a passing grade on an exam. Students can study for and take the exam while working on their professional experience, but they will not be qualified until they have completed both the experience and the exam.
Those pursuing the main CIMA qualification and institute membership can also pursue a number of lesser qualifications. Students may be exempt if they have an appropriate degree or have relevant qualifications from other groups. The organization offers an initial entry level certificate that should be obtained by those planning to begin the main qualification. The student receives a CIMA diploma for completing the operational and management levels, and a CIMA advanced diploma for completing the strategic level, as she progresses through the main CIMA qualification. CIMA also offers a two- to six-month short certificate course in Islamic Finance for those with a specialization in the field.